Hoboken, New Jersey--(Newsfile Corp. - December 6, 2021) - Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the "Company") announced today that its ggCircuit brand will install the ALPHA software solution at four Simplicity Esports and Gaming Company (OTCQB: WINR) (or "Simplicity Esports") locations in a deal the Company expects will generate approximately $1.5 million in revenue over the next five years.

ALPHA (short for Automated LAN Programming, Hardware, & Assistance) is an eSports software and support package for venues that want to focus on their business vision by outsourcing their technology needs to ggCircuit. By partnering with ggCircuit to deploy ALPHA, venues get access to a team with 20 years of eSports management experience to implement turnkey solutions, sourcing, setup and support services that allow venue operators to more efficiently and effectively manage and grow their business.

"We're extremely excited to bring the extensive capabilities of ALPHA to these four facilities managed by Simplicity Esports' team," said Magnus Leppäniemi, President of Esports at Esports Entertainment Group. "We believe ALPHA will greatly enhance their operations and improve the appeal and revenue generating power of their venues. Furthermore, Simplicity will have access to ggCircuit's cryptocurrency mining application, which recently surpassed the $1.5 million mark in mined currency."

"Our continued relationship with Esports Entertainment Group and ggCircuit has provided us with the ability to deliver top notch gaming services to our customers across the country inside the largest footprint of esports gaming centers in North America," said Roman Franklin, CEO of Simplicity Esports. "We began mining cryptocurrency in June, and having the ability to do so at four more locations by replacing older consoles with gaming PCs powered by NVIDIA 3090 graphics processing units, will only increase our mining revenue and the quality of our customers' gaming experiences."

Simplicity Esports will earn approximately $225,000 per location in cryptocurrency mining revenue over the next five years, based on current cryptocurrency prices, in addition to game time revenue from each location. Simplicity Esports previously announced it intends to upgrade 450 more of its existing console stations to powerful mining PCs.

About Simplicity Esports and Gaming Company:

Simplicity Esports and Gaming Company (WINR) owns 17 esports gaming centers, and is the franchisor for 16 esports gaming centers that give the public an opportunity to experience gaming and esports in competitive and casual social settings, regardless of skill or experience. Simplicity Esports also owns a Riot Games League of Legends franchise and top Brazilian esports organization, Flamengo Esports. Simplicity and Flamengo branded teams compete in popular games such as League of Legends®, FreeFire®, Wild Rift®, and Heroes of the Storm®. Simplicity Esports is also in the process of designing, minting, and selling non-fungible tokens (NFTs) for the esports and gaming industries. Simplicity Esports also organizes and hosts various in-person events and play from home, online tournaments.

FreeFire®, Heroes of the Storm®, League of Legends®, and Wild Rift® are registered trademarks of their respective owners.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

JCIR
Joseph Jaffoni, James Leahy, Norberto Aja
212-835-8500
gmbl@jcir.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106780